Most NATO members are already spending over 2% of their GDP on defense, according to The Telegraph.

Most of NATO's 31 members will allocate at least 2% of their gross domestic product to defense this year, compared to just three member states in 2014.

This is reported in an article by The Telegraph.

“Ukraine has prompted many NATO countries to increase their defense spending to 2% of their GDP – a long-agreed common target. Overall, NATO has 31 members, and this year, 23 of them are expected to meet the 2% target; only three countries achieved this in 2014. For the first time since the early 1990s, the Alliance is set to spend a full 2% of its GDP on defense,” the report states.

Among the remaining eight member countries that have not reached the 2% mark are Italy, Spain, and Canada, although they are also spending more on defense than last year.

Meanwhile, the U.S. is spending 3.38% of its GDP on defense this year – less than last year, but “the actual amount is substantial, considering the overall size of the country’s economy.” “America, which spent $916 billion on defense in 2023 – more than any other country on Earth – is the foundation upon which NATO rests,” the publication notes.

It is also mentioned that countries located closest to Russia typically spend the most on defense.

“Estonia spends a higher percentage of its GDP on defense than America – 3.43%, while Poland, which has been very aggressive regarding the Russian threat (and has a history that drives it to do so), spends 4.12%, up from 3.9% the previous year. In comparison, the UK’s spending increased from 2.07% of GDP in 2023 to 2.33% last year,” The Telegraph reports.

Background. Previously, Mind reported that Ukraine is confidently winning the economic war against Russia. The Ukrainian economy has adapted to the war, forecasting GDP growth in 2024-2025.